August 3, 2022

In This Issue:

  • TDI Quarterly Audit Results Published
  • Texas Workgroup on Blockchain Matters to Meet Aug. 19
  • ICYMI: Texas Legislature Update
  • New Escrow Ethics Webinar Available and Other CE Hours

TDI Quarterly Audit Results Published

TLTA | Aug. 3, 2022
 The following is a summary of recent TDI audits, violations and enforcement actions from March 2021 through May 2022. Read TDI's complete summary of operations for the quarter, or review key statistics below.        
      
Compliance Audits: TDI's goal is to comprehensively audit agencies at least once every two years. This quarter, TDI conducted 67 audits.      
       
Commissioner Orders: This quarter, TDI signed no Commissioner Orders. As of this report, 6 cases remain active and under investigation.      
       
Compliance Audit Results: Below are TDI's most common audit findings for the quarter that ended in May 2022. The numbers below represent how many agencies had an infraction, not the number of times the infraction occurred:
 
Number of Agencies
Category
Description
51
Abstract Plant
Section 2702.053 - Actual receipts and/or disbursements not in agreement with settlement statement or premium split not disclosed.
37
Procedural Rules
P-21: Schedule D of commitment not in file or premium split not disclosed on 90 commitment.
32
Escrow Accounting
Outstanding checks not cleared timely.
31
Minimum Escrow Accounting Procedures & Internal Controls
#16 - Every disbursement not supported by invoice or sufficient other evidence


Review Complete Quarterly Audit Report »
 

Texas Workgroup on Blockchain Matters to Meet Aug. 19

TLTA | Aug. 3, 2022
 The 87th Texas Legislature created the Texas Work Group on Blockchain Matters via passage of HB 1576 last year. The workgroup has scheduled a meeting Aug. 19.
 
The work group is charged with developing a master plan to promote expansion of the blockchain industry in Texas. The master plan must be submitted to certain legislative committees of the Senate and House of Representatives no later than Oct.ober 31, 2022.
 
Your legislative team at TLTA continues monitoring this group's work and will report if we see any acitivity activity impacting the real estate industry or when we know more about any changes the group may propose. 
 
Review the Meeting Notice »
 
TLTA Editor's Note: Monitoring the blockchain workgroup is just one of the many activities in which TLTA staff and advocates are engaged at the Texas Capitol. Learn more about our work during the legislative interim in the Texas Legislature Update we shared in last week's Dateline (see below). 
 

ICYMI: Texas Legislature Update

TLTA  | July 27, 2022
 The Texas Legislature's 88th Session will commence in less than six months on Jan. 10, 2023, and legislators can begin pre-filing bills less than 4 months for now. 
 
While the final runup to the upcoming legislative session will not occur until after the general election in November, there's weekly activity at the Texas Capitol now, primarily focused on interim study of subjects assigned to legislative committees by the Speaker of the Texas House and the Lieutenant Governor. Your team at TLTA are closely monitoring the interim study process, as recommendations made during the interim frequently reappear in the form of filed legislation.
 
Housing affordability and property taxes are part of the current interim discussions at the Capitol, and two items of recent news are worth noting. The Texas House Urban Affairs Committee recently held a special hearing in Houston to discuss housing affordability – a discussion we continue to monitor at the state and federal levels. And, importantly, the state's Comptroller recently revised his estimate of how much Texas appropriators will have to work with when the Legislature crafts the next state budget for the upcoming biennium. The Comptroller said legislators will have nearly $30 billion more to work with than previously projected. As the Texas Capitol community discusses what to do with those additional funds, reducing property taxes is a common proposal. We should expect to see property taxes addressed in some regard during the 88th Session.
 
As lawmakers' priorities for the upcoming session continue to develop and evolve, so too are TLTA Legislative Committee volunteers working to develop legislative proposals to present to the Legislature in the spring. If you have issues or concerns that may require a legislative solution, please contact [email protected].
 
Our TLTAPAC activities continue throughout the legislative interim, and additional PAC outreach and activity is expected after the November election. Thank you to our Local Legislative Liaisons, TLTAPAC Board, and all who continue helping us maintain effective lines of communication with the lawmakers who oversee our regulated industry.   Please be sure to mark your calendar for our industry's Day at the Capitol Feb. 7 and 8, 2023. We will share more details about this important event in the coming months. 

New Escrow Ethics Webinar Available, and Other CE Hours You Don't Want to Miss

Ethics: Walking the Tight Rope of Neutrality

1hr Escrow Ethics Credit
On-demand webinar available now
Learn more and register now »
 

Evolving Cybersecurity - How to Protect Your Company and Customers

1 hr Escrow Credit, 1 hr MCLE Credit
Webinar presented live Aug. 18 with opportunity to ask questions of presenter
Learn more and register now »
 

Texas Real Estate Market Forecast: What's Ahead?

1 hr Escrow Credit
On-demand webinar available now
Learn more and register now » 

Don't see what you're looking for in the list above? TLTA maintains a library of more than 80 On-Demand webinars and videos  covering the title industry topics you need to earn continuing education credits and stay ahead of the curve on the latest industry trends!